The Commonwealth faces a number of fiscal and economic challenges and its liquidity has been adversely affected by recent events. As a result, it may be unable to honor all of its obligations as they come due

En otras palabras, PR no tiene dinero para pagar sus deudas.

GDB, the principal source of short-term liquidity for the Commonwealth, has been adversely affected by recent events and it may be unable to provide necessary financing to the Commonwealth

The Commonwealth’s retirement systems have a significant unfunded actuarialaccrued liability and a very low funding ratio, and recently enacted reforms do not address these problems. To the extent the retirement systems’ assets are depleted, they may be unable to pay benefits in full

Hello,
Did you have an opportunity to check constitutionality of new 2% fee on $ transfers that originate in PR and are destined to residents in 50 states or abroad?
The House committee report concluded it is constitutional because it applies to all money transfer firms in PR.
I believe the fee is inconstitutional because it only applies to interstate and foreign $ transfers.
There are about 185 firms that would be affected competitively, such as Western Union and others listed in FinCen.gov. The 2% fee doesn’t apply to banks and the USPS.
Best, José Oyola
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